A company has the following information for its inventories A, B, C, and D: QuantityHistorical CostNet Realizable ValueA15$20$25B203530C402540D255035The necessary adjustment associated with the lower of cost and net realizable value would be:1.Inventory675 Cost of Goods Sold 6752.Cost of Goods Sold675 Inventory 6753.Inventory475 Cost of Goods Sold 4754.Cost of Goods Sold475 Inventory 475
A. Option 1
B. Option 2
C. Option 3
D. Option 4
Answer: D
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A firm classifies liabilities which fall due within the operating cycle, usually one year, as
a. a current liability. b. a long-term liability. c. a noncurrent asset. d. part of shareholders' equity. e. a contingent liability.
The key distinguishing feature of the critical industrial relations school of thought is that:
A. Workers cannot be treated as any other commodity to be bought and sold in a marketplace. B. Labor markets are essentially competitive markets that need a small amount of guidance from governments. C. There is an inherent conflict of interest between labor and management that extends to the very social order of society whereby some classes of individuals are better off than others. D. There is a unity of interests between employers and workers.
Which of the following is not true regarding engineering studies?
A) They can determine the most efficient way to operate. B) They are often achievable by operating personnel. C) They provide very rigorous guidelines. D) All of the other statements are false. E) More than two of the other statements are true.
If you are a franchisor and you charge a royalty of 5% on revenue and you have franchisees that have revenues of $1 million, $2 million, $1.5 million, and $2.5 million, how much would you earn in royalties?
A. $3,500,000 B. $3,000,000 C. $300,000 D. $350,000